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Wednesday, February 2, 2011

EUR/USD - 140,50 the next target

We have had lots of warnings that a move towards the 140.50 area was in the cards, but the break above 137.85 was the final clue.

So it should no longer be a question if we see 140.50, but what happens if we break above that level too. A clear break above 140.50 would leave the 142.82 open for testing, but the Invers Should/Head/Shoulde bottom will leave us with a possible target near 148.50.

Support is now seen at the 137.57 area and strong support again at 135.67.

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